Nicolás Maduro's administration is calling President Trump's blockade of all sanctioned oil tankers entering and leaving Venezuela a "grotesque threat."

Caracas

Oil prices increased after US President Trump ordered a blockade on sanctioned oil tankers entering and leaving Venezuela, a country with significant petroleum reserves. The blockade targets vessels suspected of transporting oil to and from countries like Iran and China, but does not affect non-sanctioned commercial traffic, including US companies such as Chevron.

Venezuelan President Nicolas Maduro labeled the blockade a 'grotesque threat' and accused the US of violating international law, with plans to bring the issue to the United Nations. The action, which US officials say is part of a crackdown on oil smuggling, has prompted the Venezuelan Navy to escort some tankers and raised concerns among US lawmakers about the president's authority to impose such measures without congressional approval.

Maduro slams Trump's oil tanker blockade as 'grotesque threat'

Oil prices ticked back up today after falling to a four-year low on Tuesday. This follows President Trump's decision last night to order a blockade of all sanctioned oil tankers entering and leaving Venezuela. The South American country has some of the world's largest petroleum reserves. Crude oil prices had previously been low amid signs of progress in Russia-Ukraine peace talks. A potential agreement could lead Western nations to ease sanctions on Russian oil which would free up global supplies. Venezuelan President Nicolas Maduro's administration is calling President Trump's blockade a quote grotesque threat. It's not clear how many vessels are covered by the planned blockade but over the weekend White House National Economic Council Director Kevin Hassett told CBS News' Face the Nation that the administration is cracking down on a quote black market for oil. Last week the US military seized a sanctioned 20-year old oil tanker that had departed from Venezuela. The vessel was allegedly involved in an oil smuggling network that helped fund the Iranian military and its regional proxies. This all comes as the US continues to strike alleged drug boats in the Caribbean and Eastern Pacific. CBS News senior national security correspondent Charlie Daggett joins us now. Charlie what were we learning about this blockade? Yeah so Lindsey, President Trump used the terms total and complete blockade in his post in capital letters as he often does for emphasis but that blockade refers to sanctioned oil tankers coming in and out of Venezuela. Sanctioned oil tankers so ships that have been identified by the United States as being suspected of transporting oil to and from countries like Iran a shadow fleet and transferring that oil sometimes at sea to China but what it does not apply to is is like other commercial traffic even oil tankers that are not sanctioned including by the way Chevron an American company that can still pass through that we want to call it a blockade but there are a number of those sanctioned oil tankers you mentioned it at the top in and around the waters of Venezuela that fall under that list and tanker trackers an organization have shown that they really haven't moved since the seizure of that that first oil tanker the skipper last week so a blockade or at least a deterrent is already in place there. And isn't it also typically considered an act of war under international law I mean what does that mean or suggest about the Trump administration's possible plans in the region? Yeah it is and and this is all about US pressure campaign against the regime of Venezuelan President Nicolas Maduro so we go back to like the Cuban missile crisis in the 1960s back to international law that states a blockade is a belligerent act which as a matter of international law is ordinarily justified only if in a state of war or if that de facto exists so that has US lawmakers questioning the president's authority to impose a blockade without congressional approval Venezuela as you said is accused the president of violating US and international law and they say they're gonna take the case the UN and we're now hearing today that Venezuelan Navy ships are escorting some of those tankers for safe passage and we have to remember that armada that's to use the president's words around includes around a dozen warships that are currently deployed to that region but but they're part of a mission called Operation Southern Spear and that specifically targets drug interdiction those two dozen drug boats and this moves on to tanker interdiction so that moves it to the next level a serious escalation. Charlie Daggett, thank you.

President Trump delivered remarks Wednesday night looking back at his first year back in office. Nancy Cordes reports.

Washington

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Brussels

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Los Angeles

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Moscow

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U.S. President Donald Trump announced on social media a "total and complete blockade of all sanctioned oil tankers" going in and out of Venezuela. Some details remain unclear, including when the order would be implemented and how many tankers could be involved.

Trump orders blockade on Venezuela oil tankers

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Council of the City of Sydney

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Providence

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U.S. President Donald Trump has followed through on his threat to sue the BBC over a misleading video edit of a speech he made on January 6, 2021, and filed a lawsuit against the media corporation on December 15. He will be seeking 10 billion dollars in damages.

London

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Ukrainian President Volodymyr Zelenskyy says a proposal to end his country's nearly four-year war with Russia are "very workable" and could be finalized within days, but he warns key issues remain.

Kyiv

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Paris

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Bondi Beach

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Berlin

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Australia's prime minister said a mass shooting at a Hanukkah celebration at Bondi Beach appears to have been motivated by ISIS ideology. Meanwhile, mourners flocked to the site to lay flowers and grieve for the people killed, including a 10-year-old child.

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California

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Boston

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Hong Kong Island

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Brentwood

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Breakdown